History of Kingfisher Properties and Holdings Ltd.
YEAR EVENTS 1915 - The Comp. was Incorported at Chennai. The Comp. runs a brewery & has interest in pharmaceuticals, chemicals, & fruit preservation through substantial holding in other companies. The products manufactured are beer, stout brewer yeast, etc.
1938 - Preference shares redeemed at Rs 105 each.
1958 - 8,000 No. of shares of Rs 25 each issued as bonus & the shares of Rs 75 each & Rs 25 each consolidated into sha each.
1959 - In August, the Comp. offered for sale 20,000 equity shares of Rs 10 each of McDowell and Co., at Rs 20 per share excluding the dividend for year ended 31st December, 1958.
- The following are the subsidiaries of Company: [1s] Blue Mountain Food Products limited [2s] Cardboard Industries Ltd. [3s] VB Information and Consultancy Services limited [4s] MWP Ltd. 5s] Mysore Wine Products limited [6s] Nepal Liquors Pvt. Ltd. [7s] Masoneilan [Is] limited [8s] UB Petrochemicals limited [9s] UB Breweries limited [10s] McDowell Krest Finance limited [11s] Shilton Hotel Pvt. limited [12s] UB Pharmaceuticals limited [13s] U.B. Global Corpn. limited [14s] UB Resorts limited [15s] UB Transit Systems Ltd. [16s] United Breweries [Holdingss] limited [17s] Vitasta Investments limited [18s] UB Investments Ltd.
- Shares sub-divided. Authorised capital increased. 40,000 bonus equity shares issued in the proportion 1:2.
1960 - 80,000 right equity shares issued at par in the proportion 2:3.
1961 - 50,000 right equity shares issued at par in the proportion 1:4.
1963 - 250,000 bonus equity shares issued in the proportion 1:1.
1966 - 5,00,000 bonus equity shares issued in the proportion 1:1.
1975 - 20,00,000 bonus equity shares issued in the proportion 1:1.
1986 - 20,00,000 bonus shares issued in prop. 1:1 & allotted on 18th August.
- A programme of modernisation was taken in hand at the Bangalore Unit.
1987 - The Bangalore Brewery was closed for 40 days during July/August 1987 due to industrial unrest & the Hyderabad brewery was closed for about 30 days following an order from the Andhra Pradesh Pollution Control Board.
1988 - The Comp. entered into a memorandum of understanding with M/s. Jenson & Nicholson of U.K.
- The name of Comp. was changed from United Breweries, Ltd. to UB, Ltd.
1989 - As a measure of diversification, the Comp. proposed to take up the manufacture of bulk drug, & pharmaceuticals on a priority basis.
- Various balancing equipments were installed at the Bangalore unit to bring about improvement in the quality of products.
- The Comp. undertook steps to export software to USA & other countries. Plans were also underway to establish a sophisticated tele-communication network for data transmission to further improve its Management Information Systems.
1990 - During August-September the Comp. offered 3,20,000-12.5% secured convertible debentures of Rs 300 each on `Rights' basis in the proportion 4:5. Another 16,000 debentures were issued to the employees under the Employees' Stock Option Scheme. A total of 3,71,363 debentures were allotted.
- Part-A of Rs 200, the face value of each debenture was converted into 5 equity shares of Rs 10 ech at a premium of Rs 30 per share on 23.4.1991. Accordingly, 18,56,815 equity shares were allotted. Remaining Part-B of phase value of debenture were to be redeemed at par on the expiry of 8th year from the date of allotment.
1992 - With effect from 1st April, three wholly owned subsidiaries viz. High Range Breweries Ltd., Kesarval Beverages limited & Kalyani Brewerie limited were amalgamated with the Company. Consequent upon the amalgamation, the shares held by Comp. in the above three subsidiary companies stood cancelled.
- Five more wholly owned subsidiaries viz., Golden Investments Ltd., Eudeavour Investments Ltd., East Coast Investments Ltd., Consolidated Investments limited & Enterprise Investments Ltd. were also amalgamated with the Comp. with effect from 1st April.
- Three brewery companies viz., Punjab Breweries Ltd., Indo Lowenbran Breweries limited & Premier Breweries limited were amalgamated with the company. Consequent upon amalgamation, the erstwhile shareholders of Punjab Breweries Ltd., & Indo Lowenbran Breweries limited were allotted 10,21,435 equity shares of Rs 10 each.
- 58,56,815 shares allotted as bonus in proportion 1:1.
1993 - During the period, Kingfisher Lager was introduced in cans and pints in Mumbai.
- A private placement of debentures of Rs 100 each aggregating to Rs 10 crores & redeemable not later than 18 months from the date of allotment was made with Citibank, NA on November 28th 1994.
- 12.5% secured redeemable NCD of Rs 125 each issued by Punjab Breweries Ltd., since merged with the Company, came up for first instalment of redemption on April 19, 1995 & the obligations were met by Comp. reducing the face value of said debentures on redemption of Rs 85 per debenture.
- The Comp. issued 25,000,000 convertible warrants of Re. 1 each to McDowell and Co. limited a promoter group Comp. as per terms as set out in the warrant certificate.
- During December the Comp. offered 46,85,452 equity shares of Rs 10 each for cash at a premium of Rs 25 per share on rights basis in the rates to 2 shares for every 5 shares held [all were taken ups].
- Another 52,80,318 shares of Rs 10 each for cash at a premium of Rs 25 per share are reserved for firm allotment to the promoters [all were taken ups].
- 1,23,20,600 shares of Rs 10 each for cash at a premium of Rs 25 per share are reserved for preferential allotment of which 12,32,000 shares to financial institutions, 12,32,000 shares to UB group companies, 1,79,800 shares to the employees, 12,32,000 shares to Mutual Funds, 23,40,900 shares to NRIs, 6,16,000 shares to foreign institutional investors including mutual funds, pension funds, investment trusts, asset management companies, nominee companies etc. [all were taken ups].
- 54,87,900 shares along with the remaining unsubscribed portion if any of preferential allotment were to be added [only 11,900 shares were taken ups].
1994 - Draught Beer was introduced in cities like Mumbai, Calcutta and Pune because of immense popularity in Bangalore. `Kalyani Premium Strong' was launched in western India & `Kalyani Export Special' commenced sales in the U.K. during the year.
1996 - The Comp. continued the policy of modernising & expanding manufacturing capabilities with emphasis on quality as well as new product development. The Comp. proposed to launch two new products.
1997 - A new product - `UB Premium ICE Beer' was launched, which was well received in the market.
- The Comp. had acquired Mumbai Breweries at Taloja, Maharashtra, a division of Herbertsons Ltd.
- 13,75,427 No. of equity shares were allotted to erstwhile shareholders and Punjab Breweries Ltd., Indo-Lowenbran Breweries limited & Premier Breweries limited as per the scheme of amalgamation.
- United Breweries of America, Inc. [UBAs], an affiliate of UB group, signed an agreement in Portland, USA, to acquire 45 per cent equity for $8.63 million in cash, in a new entity comprised of consolidation of Nor'Wester Brewing Company & WVI/Microbreweries Across America.
- The United Breweries is contemplating setting up of star hotel on Vittal Mallya road, soon after the re-location of its brewery out of city limits.
- Kingfisher has staged another coup by entering into a contract with Ajay Jadeja & Saurav Ganguly the successful duo of Indian Cricket.
- United Breweries limited has emerged as the largest exporter of beer in the country.
- United Breweries limited [UBLs] has decided to hive off its wholly-owned subsidiary, MIL Controls Ltd, to German multinational, KSB Pumps GmbH.
- UBL has signed a memorandum of understanding with the multinational around one-and-a-half months back for proposed disinvestment.
- UBSN is a 50:50 joint venture Comp. between Shepherd Neame & UB International UK [UBIs].
- Kingfisher Lager is manufactured in UK through United Breweries plc - a 100% subsidiary of UB India.
1998 - United Breweries launched the country first premium Ice Beer to be introduced in Mumbai & selected cities of Maharashtra.
- The Comp. has tied with Balaji Distilleries to bottle for the first time in Tamil Nadu its brand beers with a capacity of 500,000 cases per annum.
- United Breweries limited [UBLs] proposes to enter into a joint venture with Ugar Sugars of Belgaum to produce high-quality barley, which it will use to produce beer.
- UB is first Indian breweries to get the certification for effective implementation of quality management systems.
- The United Breweries has launched a new speciality beer-UB Ice. This is the first-time that an ice beer has been introduced in the country.
1999 - United Breweries Ltd [UBs] announced the launch of new subsidiary company, Millennium Alcobev Ltd [MABLs].
- United Breweries limited [UBs], has launched www.kingfishernetshop.com, an Internet shop for complete range of Kingfisher beer & Kingfisher line of clothing & accessories.
2000 - United Breweries Ltd., has recently launched its fast growing brand Kingfisher Strong on the Net in Bangalore.
- Kingfisher, major lager beer & flagship brand of United Breweries, was adjudged the best beer in class `A' category at the International Beer Awards 2000.
- The United Breweries limited & its subsidiary Millennium Alcobev limited have entered into a contract agreement with Mohan Meakins to brew beer at the latter facilities in Maharashtra, Uttar Pradesh, Andhra Pradesh & Daman.
- Mr. Ravi Jain Millennium Alobev limited a subsidiary of United Breweries, is in negotiations with an international beer Comp. for an equity joint venture to market a super premium beer in India.
- United Breweries, the holding Comp. of UB group, will be bifurcated into two companies: a beer Comp. & an investment holdings/property entity.
- UB Ltd has carried out a reorganisation of its businesses by hiving off four subsidiaries & making seven companies its fully-owned arms, apart from acquiring the sorghum business of South African Breweries Ltd.
- United Breweries limited acquired two breweries of Aurangabad-based Inertia Industries located in Aurangabad & in Haryana.
- Vijay Mallya United Breweries has entered into a strategic allance with Intertia Industries to produce beer using the latter manufacturing facilities in Haryana & Maharashtra.
- The Comp. has signed an agreement to acquire 65 per cent of equity of Associated Breweries & Distilleries Ltd.
2001 - The United Breweries will re-launch San Miguel & London Pilsner the new beer brands in its portfolio.
- United Breweries Ltd has consumated an agreement to purchase 75 per cent of Mangalore Breweries and Distilleries Ltd, through its wholly owned subsidiary United Breweries [Holdingss] Ltd.
- United Breweries [Holdingss], a wholly-owned subsidiary of United Breweries, has entered into an agreement to acquire up to 75 per cent of paid-up equity capital of Mangalore Breweries & Distilleries Ltd.
- The United Breweries [UBs] group has signed reseller & licence agreement to market SeeItFirst interactive streaming media solutions in Asia.
-U B Ltd has increased the borrowing limit of Comp. by Rs 200 crore to Rs 700 crore to fund its various plans including acquisitions.
- United Breweries limited [UBLs], the largest beer manufacturer & marketing company, has launched two more premium brands-London Pilsner premium beer & London No.1 strong beer - in Hyderabad.
2002
-United Breweries Ltd has informed that their ultimate subsidiary McDowell Alocbev Ltd [MALs] has concluded an agreement arising out of which, MAL have acquired 100% shareholding in Empee Breweries Ltd which is having two breweries, one in Kerala & one in Tamil Nadu.
